Further to the unfortunate and regretful Announcement of the Provisional Liquidation of URICA Limited (UL) on 20th July last, we write to provide some important messages and contact details to our Clients and Partners on how best to engage with UL and URICA Europe Ltd (UEL).
Please note that the Liquidation of UL does not affect the UEL, being the Fund entity that financed and purchased the invoice receivables in accordance with the terms and conditions of trade with UL.
Borrower Client (a.k.a. Supplier) – If as a Supplier you were advanced monies by UEL against invoices approved by your Customer then it is incumbent upon you to remind your Customer that their obligations to UEL remain unchanged, and as such their due payments should be met in the usual way. Any requests for new finance under URICASH can no longer be processed via the URICA platform but we are working closely with some alternative single Invoice Finance providers with a view to supporting your immediate and on-going financing needs. Meantime, if you have any queries of a relationship or service nature then please contact email@example.com.
Debtor Client (a.k.a. Customer) – If as Customer you approved invoices on our platform issued by a Supplier relationship then the terms and conditions of your obligation to UEL remain unchanged in that you are required to remit the full face value of the approved invoice(s) to UEL on the due payment date. Any requests for new finance under URICASHBACK can no longer be processed via the URICA platform but we are working closely with alternative Reverse Factoring providers with a view to supporting any future needs you may have for this type of product. Meantime, if you have any queries of a payment nature then please contact firstname.lastname@example.org.
Creditors – If you are owed monies by UL then you must direct your queries to FRP Advisory, the Liquidators (Craig Morrison at email@example.com) who can advise of your rights and next steps.
Business Partners – Your custom has been greatly appreciated over the years, and as indicated above, we are working hard to deliver the continuity of financing to Suppliers with the potential support of a few alternative Invoice Finance platforms.
The servicing and management of all outstanding receivables are now being managed by an established and experienced team, sourced from URICA employees who are familiar with all existing supplier and customer cases and who can be contacted on 020 7193 7616.
We would like to thank all of our valued and loyal Clients and Business Partners for their custom and friendship since we launched in 2014, and wish them all the very best for the future.